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Topic: Using Bitcoin to Buy Things Could Trigger IRS Tax Bill (Read 162 times)

legendary
Activity: 1878
Merit: 1038
Telegram: https://t.me/eckmar
Hi !
Using Bitcoin to buy everyday things, such as a burger, could trigger a tax bill from the IRS due to cryptocurrency being considered property. However, there is potential relief on the way in the form of new legislation.
 Shocked Shocked Shocked
http://bitcoinist.com/using-bitcoin-buy-things-trigger-irs-tax-bill/

Don't withdraw btc to bank and then buy a burger with a card. Use BTC atm or find guy on localbitcoins.com, get cash, buy burger. Problem fixed.
sr. member
Activity: 616
Merit: 269
A decentralized registry for unique assets
Hi !
Using Bitcoin to buy everyday things, such as a burger, could trigger a tax bill from the IRS due to cryptocurrency being considered property. However, there is potential relief on the way in the form of new legislation.
 Shocked Shocked Shocked
http://bitcoinist.com/using-bitcoin-buy-things-trigger-irs-tax-bill/
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